The 'Goods and Services Tax' on health insurance premiums is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on health insurance premiums is:

A. 18%

B. 12%

C. 5%

D. 0%

Answer: Option A

Solution (By JKSSB Mock Tests)

Health insurance premiums attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'New Development Bank' established by BRICS countries is headquartered in:

A. Moscow

B. Shanghai

C. Beijing

D. New Delhi

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Correct Answer: Option B

Explanation:
The New Development Bank is headquartered in Shanghai, China.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on services by diplomatic missions is:

A. 18%

B. 0%

C. exempt

D. 5%

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Correct Answer: Option C

Explanation:
Services by diplomatic missions are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' rate on cinema tickets below Rs 100 is:

A. 28%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option C

Explanation:
Cinema tickets up to Rs 100 attract 12% GST.

This question belongs to: Economy GK Economy Set 1

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